It's a little bit kludgy, but you need to do this:
Label linkLabel = new Label();
Run linkText = new Run("Google");
Hyperlink link = new Hyperlink(linkText);
link.NavigateUri = new Uri("http://www.google.com");
link.RequestNavigate += new RequestNavigateEventHandler(delegate(object sender, RequestNavigateEventArgs e) {
Process.Start(new ProcessStartInfo(e.Uri.AbsoluteUri));
e.Handled = true;
});
linkLabel.Content = link;
myStackPanel.Children.Add(linkLabel);
This will make a new label with the text "Google", the Uri "http://www.google.com", and when clicked it will open the Uri in the user's default browser.